Hadassah, The Women’s Zionist Organization of America will pay back $45 million of the money it made in the Bernard Madoff scam, it was announced on Thursday

Hadassah President Nancy Falchuk in a letter Thursday told the organization’s supporters of the settlement reached by the group with the trustee of Madoff’s estate.

The organization, which began investing with Bernard Madoff Securities in 1988 with a $7 million gift, deposited a total of $40 million in its Madoff accounts, and by April 2007 had withdrawn $137 million. The last account statement showed approximately $90 million at the time the fraud was discovered.

The $45 million is half of what Hadassah earned unwittingly in the scam. Hadassah with the settlement avoids a lawsuit by the trustee, Irving Picard, who already has sued a number of individuals, organizations and foundations that made money in the Madoff fraud.

Quote:

“As painful as it is, this settlement is in the best interest of Hadassah," Falchuk wrote in the letter

Re: Hadassah, Women’s Zionist Organization of America will pay back $45 million from Madoff Scam...

How much of that 45 mil is from U.S. Government funding aka taxpayers money ? Please excuse my scepticism about this "honorable" action from this organization.Perhaps they just made that much of a killing this is chump change or avoiding the lawsuit helps keep others and their actions out of the spotlight so that this might have seemed like one heck of a bargain ?

Re: Hadassah, Women’s Zionist Organization of America will pay back $45 million from Madoff Scam...

I have wondered if the whole Madoff scenario was just a money laundering scheme for all those jews to get their ill-gotten gains offshore, probably to Israel, to avoid taxation. Any non-Jews who invested with Bernie just plain had their money stolen. The swiftness of him being brought to justice was odd.

Re: Hadassah, Women’s Zionist Organization of America will pay back $45 million from Madoff Scam...

Quote:

Originally Posted by Gseppi

I have wondered if the whole Madoff scenario was just a money laundering scheme for all those jews to get their ill-gotten gains offshore, probably to Israel, to avoid taxation. Any non-Jews who invested with Bernie just plain had their money stolen. The swiftness of him being brought to justice was odd.

One of the never mentioned charges against Madoff is money laundering, with all his ties to Israeli banks, it's a sure thing.

Re: Hadassah, Women’s Zionist Organization of America will pay back $45 million from Madoff Scam...

To assume this organization was unaware of the scam is naive. Everybody on Wall Street realized this was a scam because the earnings were excessive. The organization may have just looked the other way while their earning increased.

__________________

When you find yourself on the side of the majority, you should pause and reflect. - - Mark Twain

Of all the things I’ve lost, I miss my mind the most.” - -
quotes of Mark Twain.

Re: Hadassah, Women’s Zionist Organization of America will pay back $45 million from Madoff Scam...

As I have pointed out earlier, Madoff's has very close and long-standing business ties to the directors and owners of two of Israel's largest banks, which were privatized in 2005-06 under Israeli finance ministers Benjamin Netanyahu and Ehud Olmert: Bank Leumi and Israel Discount Bank. It is a matter of record that the IDB has a history of money-laundering and illegal money transfers.

Jacob Ezra Merkin, who funneled hundreds of millions if not billions of dollars to Madoff's fund, is co-owner of Bank Leumi. Madoff's co-chair at the Sy Syms School of Business at Yeshiva University was Sy Syms, a long-standing director of Israel Discount Bank of New York. These two relationships strongly suggest that Madoff's scheme was a massive theft being disguised as a Ponzi scheme in which fellow Zionist fund-raisers played key roles.

If this is the case and the Madoff fraud is actually a huge Zionist fund-raising scheme in which untold billions have been stolen, then we would expect that the role of the prosecutor would be played by a Zionist agent acting the role of a tough, but not too tough, prosecutor. It should come as no surprise that this is, in fact, the case.